H2 Lean StartUp Spain

H2 Lean StartUp Spain

Today the world, the markets and the economy are changing very fast and information is spreading rapidly, Spain is not a case apart.

So what should we do to be effective in the world of business and sustainable development? The first thing to know is that for engineers to succeed in a startup, we need to fail to corroborate hypotheses, but most of us and companies dedicated to industrial engineering, still think you have to have everything ready before starting a business, but in this world the future is unpredictable.

So we must develop a business model with which to have feedback and measure in order to learn and finally make good decisions.

A simple business case for the hydrogen sector: we have a business idea that we could pay for advertising in some media selling that product or service even if you don’t have anything done yet.

At the time of some sales we could consult a client to get feedback on what they would like to see.

This simple process can give you very powerful and real data based on experimentation and we can make better decisions since it is empirical data from real customers.

Once we have seen these steps we can analyze the feedback loop where to measure and finally create a minimum viable product.

Once we know this first product, we can follow a decreasing hypothesis and think about optimization for small batches.

To make this process as fast as possible, we start with creating that minimum viable product in order to test the hypothesis, that is, we will work with a prototype that helps to test the hypothesis without investing in the real infrastructure.

We must be clear that we cannot invest a lot of time in the prototype, the important thing is to validate hypotheses and contain the extra costs. Thanks to this method, we are able to evaluate consumer behaviour quickly.

Finally, we will have to act if our initial hypothesis is not the most effective and modify the strategy if we see that it is not correct. This forces us to pivot the business model by changing the strategy and the product so that it can be adapted to more real needs.

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